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Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2024

Statement of Other Comprehensive Income [Abstract]

Note 10: Accumulated other comprehensive income

Changes in accumulated other comprehensive income (AOCI) by component for the three months ended March 31, 2024 and 2023 were as follows (in thousands):


Three months ended March 31, 2024	Currency Translation Adjustments			Defined Benefit Pension Plan			Total
Balance at January 1, 2024	$	22,011		$	(2,029	)	$	19,982
Foreign currency translation loss, net of tax		(3,023	)		—			(3,023	)
Actuarial gain/(loss), net of tax		—			136			136

Balance as of March 31, 2024	$	18,988		$	(1,893	)	$	17,095



Three months ended March 31, 2023	Currency Translation Adjustments			Defined Benefit Pension Plan			Total
Balance at January 1, 2023	$	20,792		$	(1,432	)	$	19,360
Foreign currency translation loss, net of tax		(1,181	)		—			(1,181	)
Actuarial gain/(loss), net of tax		—			(157	)		(157	)

Balance as of March 31, 2023	$	19,611		$	(1,589	)	$	18,022

We do not tax effect foreign currency translation gain/(loss) because we have determined such gain/(loss) is permanently reinvested and actuarial gain/(loss) is not tax effected due to a valuation allowance applied to our deferred tax assets.